During the 2018 legislative session, the general assembly enacted
Senate Bill 18-200, which made modifications to the public employees'retirement association (PERA) hybrid defined benefit plan to eliminatethe unfunded liability of the plan within the next 30 years. Senate Bill18-200 included a 2% increase in the member contribution rate to PERAfor employees in all divisions of PERA. The increase is phased in over 3years with the first increase occurring on July 1, 2019.
The bill eliminates the 2% increase in the member contribution
rate for members in the local government division of PERA.